Splash 247: Tanker markets are more uncertain than ever: Poten

In a market report headlined ‘Tanker markets are more uncertain than ever’, New York-based Poten & Partners said a combination of factors has made forecasting the direction of the tanker market increasingly difficult.

OPEC+’s decision last week to raise oil production in January by 400,000 barrels per day in line with their long-term plan to unwind last years’ production cuts by September 2022 caught many by surprise. Many analysts expected the oil producing cartel to announce a production freeze against the backdrop of sharply lower oil prices due to the emergence of the new omicron variant of Covid-19.